Life Insurance Company
The Arvada Hilton Garden Inn (Arvada HGI) is a newly-constructed, 139-room limited-service hotel located in Arvada, CO. Arvada HGI opened in March 2017 and has seen tremendous success, catering to both business travelers and tourists. The limited-service hotel is located only a few blocks from Old Town Arvada and the Arvada Gold Line, which will provide light rail service to downtown Denver by 2018.
Essex arranged a $16,800,000 non-recourse loan to refinance the developer’s construction debt and fix a competitive interest rate for 7 years. Essex sourced the loan with one of its exclusive life insurance companies, and the loan funded with only 12 months of operating history.